DC.PR.B Dundee Corporation

Dundee Corporation (TSX:DC.A)(TSX:DC.PR.A)(TSX:DC.PR.B) announced today that it
has completed the sale of its position in DundeeWealth Inc., comprised of
69,940,415 common shares and 5,453,668 First Preference, Series X shares, to The
Bank of Nova Scotia, pursuant to the terms of the Bank's Offer dated December
15, 2010 and in accordance with the terms of the Lock-up Agreement among Dundee
Corporation, the Bank, Ned Goodman and David Goodman. In accordance with the
Offer, Dundee Corporation received 18,599,029 common shares of the Bank and
14,897,209 3.70% preferred shares of the Bank. In addition, Dundee Corporation
received a cash dividend of $149 million from DundeeWealth and 74,484,956 common
shares of Dundee Capital Markets Inc. 


Ned Goodman, President and Chief Executive Officer of Dundee Corporation, said:
"This is an important milestone in the development of the future of Dundee
Corporation. We fully expect that The Bank of Nova Scotia will be highly
successful in the wealth management industry in their partnership with
DundeeWealth and its employees. We wish all of them continued success in the
management of DundeeWealth."

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